Grand Street

Overview

Grand Street is a private equity firm specializing in multifamily real estate investments in the Northeast and Mid-Atlantic regions. Founded by Audley Clarke and David Wang in 2024, the firm focuses on core-plus multifamily assets in metropolitan areas, emphasizing properties that deliver cash flow from day one and stable performance. Their investment strategy targets highly populated metropolitan statistical areas (MSAs) with supply-constrained products, concentrating on sub-pockets characterized by high income, low unemployment, and low crime rates. Grand Street's acquisition focus centers on multifamily properties valued between $2 million and $4 million, typically consisting of 8 to 20 units, to balance risk and reward. The firm plans to hold these properties for 5-7 years, providing semi-annual distributions that include property cash flow and capital events such as refinancing and sale. Grand Street differentiates itself by contributing a higher-than-typical equity stake, implementing hurdle rates that reward performance, and partnering with top-tier third-party property managers. Their advisory board, consisting of legal, accounting, and capital market experts, also invests their own capital in the deals, aligning their interests with those of the investors. This structure ensures that the general partner (GP) earns additional returns only if the property performs well above expectations, motivating them to improve property performance and aligning their interests with those of the investors. The firm's experienced team, including specialists in private equity, legal, accounting, and financing, ensures top-notch management and efficiency, reducing risk and enhancing investment performance. By partnering with local experts for property management, Grand Street aims to maximize investment value and deliver superior returns to investors. The firm prioritizes clean, efficient, and transparent reporting to keep investors fully informed, providing regular updates on property performance, current equity value, and market conditions, ensuring that investors receive timely and clear information to make well-informed investment decisions. As an initial limited partner (LP) investor, there is a unique opportunity to build a strong, lasting relationship with Grand Street from day one, benefiting from a foundation of trust and alignment that will carry forward through future investments.

Investment Focus

• Properties valued between $2 million and $4 million
• 8 to 20 units
• Located in Northeast and Mid-Atlantic metropolitan areas
• Core-plus multifamily assets
• Properties delivering cash flow from day one
• Properties with stable performance
• High income, low unemployment, and low crime rates in sub-pockets
• 5-7 year hold period
• Semi-annual distributions including property cash flow and capital events
• Higher-than-typical equity stake from the general partner
• Partnership with top-tier third-party property managers
• Advisory board investing their own capital in deals
• Hurdle rates that reward performance
• Experienced team in private equity, legal, accounting, and financing
• Transparent reporting to investors
• Opportunity for initial LP investors to build lasting relationships